YGEN.L Share News (YGEN)

(Sharecast News) - Molecular diagnostics group Yourgene Health said on Tuesday that interim revenues grew strongly to £17.5m, more than double the £8.2m recorded in the prior year and ahead of previous guidance of £15.0m.
Yourgene said genomic services revenues were up 260% at £10.5m, driven by Covid-19 testing, while genomic technologies revenues were 32% higher at £6.9m.

The AIM-listed group also highlighted that unaudited year-to-date revenues already represented 96% of the prior year's total revenues of £18.3m, with full-year top line performance now expected to exceed consensus expectations.

As a result, Yourgene expects to report positive adjusted underlying earnings of approximately £2.0m when its unaudited interim results are published around mid-December, up from the £200,000 loss reported at the same time twelve months earlier.

Chief executive Lyn Rees said: "These results demonstrate the breadth and depth of the integrated service offering that Yourgene has created to support its increasingly global customer base.

"Having invested significantly in our capabilities and business development last year, we look forward with confidence for the rest of this year and at the broader growth prospects ahead."

As of 1020 BST, Yourgene shares had slumped 6.00% to 14.10p.